GST Special Issue carrying an interview with Sunil Attavar - CMD, Group Pharma and President, Karnataka Drugs and Pharmaceuticals Manufacturers Association (KDPMA)
IPM was valued at Rs. 178,219 Cr for MAT Oct’21. The retail sector was valued at Rs. 151,183 Cr for this period contributing 85% to IPM.
IPM Growth for the month of Oct’21 as compared to the month of Oct’20 was 9.7%. This is the lowest monthly growth in the last 8 months after a low growth of 2.6% reported for Feb’21.
Corresponding to low monthly growth, IPM MAT growth also declined slightly after showing a growing trend consistently for the last 7 months from MAT Feb’21. It reported 17.3% for MAT Oct’21 as compared to 17.8% reported for MAT Sept’21.
At 15657.3 Cr, the monthly sale reported for Oct’21 is the 5th highest sale value in the last 12 months.
To me, patient centricity is as fascinating a concept as it is contradictory. It is fascinating because it puts power into the hands of the patient. And it is contradictory because pharma does not like giving away power over its messages or processes. Pharma has traditionally never enjoyed interaction and has depended on ‘pushing’ messages across rather than having ‘conversations’. It probably also explains why we make do with medical reps who are not the sharpest knives in the drawer and scarcely invest in sharpening them.
In the dynamic world of pharmaceutical marketing, staying ahead of the curve is essential for success. As technology continues to evolve, so do the opportunities for innovative campaigns. One area where pharma marketers can make a significant impact is in raising awareness about non-communicable diseases (NCDs) and promoting real-world studies and clinical trials.